摘要
China＇s Cross-Border Interbank Payment System, designed to be an ＂expressway＂ facilitating the yuan＇s use in international trade and investment, began operations in Shanghai in October. A global clearing platform for real-time settlements in the cur-rency, it connects China with most offshore yuan centers and countries in Asia, Oceania Europe and Africa to support cross-border goods and services trade settlement, direct investment, fundraising and personal remit- tances. The system is expected to increase global usage of the yuan by cutting down transaction costs and processing time.
China＇s Cross-Border Interbank Payment System, designed to be an ＂expressway＂ facilitating the yuan＇s use in international trade and investment, began operations in Shanghai in October. A global clearing platform for real-time settlements in the cur-rency, it connects China with most offshore yuan centers and countries in Asia, Oceania Europe and Africa to support cross-border goods and services trade settlement, direct investment, fundraising and personal remit- tances. The system is expected to increase global usage of the yuan by cutting down transaction costs and processing time.
